Binance CEO CZ has warned of the increasing phishing scams in the cryptocurrency industry.
Changpeng Zhao (CZ), the CEO of Binance, who has become an icon by the crypto community, has warned of the increasing phishing scams lately. CZ urged the community to exercise caution.
CZ urges community to be wary of phishing scams
Binance CEO CZ has warned of the increasing phishing scams in the cryptocurrency industry. The number of social engineering attacks has increased with the recent hacking of key executives. CZ warned his readers on Twitter to be wary of phishing and other social engineering scams.
It also recommended cryptocurrency exchange users to use hardware devices instead of mobile carrier-based two-factor authentication (2FA). According to him, hardware device enabled 2FA is the most secure option on all crypto exchanges.
CZ’s warning came just after the Twitter account of Hayden Adams, founder of Uniswap, was hacked. After the attacker took over Adams’ account, he tried to defraud his followers by posting a malicious link on his account. However, Crypto Twitter members quickly intervened to warn other users and foiled the attacker’s plan. Adams later regained access to his account and kept his followers informed with updates.
https://twitter.com/haydenzadams/status/1682198527236096000
After all these warnings and events, all industry stakeholders urged users to be more careful against fraudsters.
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